Does My Delaware LLC Have To Pay Franchise Tax?

By IncNow October 24, 2022
franchise tax

If you’ve formed an LLC but haven’t done business this year, you may be wondering if you need to pay the Delaware franchise tax. Here’s what you need to know. What Happens If I Don’t Pay the Delaware Franchise Tax? If a company fails to pay franchise tax, it will eventually lose its good standing […]

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What Is An LLC Membership Certificate?

By Matthew Dochnal September 20, 2022
llc membership certificate

The Delaware Limited Liability Company (LLC) is the preferred legal entity for entrepreneurs and small business owners. Compared to a corporation, an LLC offers much more flexibility and minimal red tape.  The company’s Operating Agreement sets forth an LLC’s ownership. This internal document governs the affairs of the company and is not filed in the […]

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How to Become an LLC: 5 Easy Steps

By IncNow August 31, 2022
5 steps

If you have your own business, you may benefit by forming an LLC. An LLC keeps an owner’s personal assets separate from any business assets. LLCs can protect owners from liability in the event of a legal dispute with a creditor, or even a business partner. This is true even if your business does not […]

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General Partnership vs. Limited Partnership: What’s the Difference?

By IncNow July 22, 2022

“The only ship that doesn’t float is a partnership”. This is common when consulting entrepreneurs who are considering bringing on a business partner. While a general partnership is the oldest business organization, it is the worst choice possible. This is because general partnerships are laden with traps that could easily end in financial ruin for […]

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Do I Need a Delaware Business License for My Delaware LLC?

By IncNow July 11, 2022

Starting a new business comes with navigating new waters and that includes what licensing is required. Business licenses are often issued at the local government level and are required for you to conduct business. This license allows the governing agency to verify that you are following the rules set in place to protect the public […]

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What is an Umbrella LLC?

By IncNow May 23, 2022
umbrella

A serial entrepreneur will often form multiple “brother-sister” companies to keep their assets from becoming commingled. But having partners that own an interest in each of these companies can generate separate partnership tax returns for each entity. One way to simplify this is to form a holding company with the partners. You can reduce the […]

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What Does LLC, Inc, Co, Corp, and Ltd Mean?

By IncNow April 26, 2022
types of entities

You may be asking “What does LLC stand for,” “Which entity should I choose,” “What is Inc.,” “What does Co. mean,” “What is LLC,” or “Ltd vs. LLC?” Before you incorporate, you need to choose which type of entity is right for you. This isn’t something you’re born knowing, and they don’t teach it in […]

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How to Become an LLC: 5 Steps

By IncNow August 11, 2020
5 steps

Becoming an LLC is an easy and inexpensive way to protect yourself from personal liability for business obligations. It’s definitely worth considering if you have your own business—even if that business is you.

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What Are the Benefits of a Delaware LLC?

By IncNow July 29, 2020
good standing

When it comes to incorporation and LLC formation, there is Delaware and then there is the rest of the world. By dedicating itself to the needs of businesses, the state of Delaware has distinguished itself as the leader in desirable corporate and LLC legislation. Combining reasonable filing and maintenance fees, responsive administrators and an exemplary […]

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How Is an LLC Taxed?

By IncNow September 18, 2019
taxes

The Delaware LLC is the most popular type of legal entity amongst small businesses. A Delaware LLC provides bullet proof liability protection for business owners’ personal assets while avoiding the red tape involved with maintaining a corporation. Entrepreneurs prefer LLCs because they are flexible, cost effective, and easy to set up. Forming an LLC is […]

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